How Tibit works and why you should use it

I’m using a new micro payment system called Tibit (click on the link to find out more). I met the folks who run Tibit during the last Online News Association conference in Denver. I found the idea intriguing. People create a ‘Tibit’ wallet and set a monetary value for each tib. So say you reading a piece that you really like, and you would like to leave a small token of your appreciation for the writer. If you have set your tib level at five cents or $0.10 or whatever you can leave a tib for the writer worth that amount.

What I like about this idea is what I’ve always liked about the Internet – you get to choose. If you don’t like what you just read or if you don’t think it’s up to par you don’t have to leave a penny. But if you do like it there is now way that you can basically tip the writer. I suppose it’s kind of like busking. I leave my hat out and if you like what I’ve done you can toss in whatever amount you like. There is a little bit of investment on the reader’s end. You do have to create a tibit account and put in a certain amount of money that you can use to lead tibs around the Internet. I don’t think in the beginning for sure that it’s going to make anybody rich but it is a way that people can support independent journalism.